Gulf Business | May 2011

Page 18

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On the Radar

Egypt to replace KSA as largest Arab economy Egypt will surpass Saudi Arabia as the region’s largest economy by 2050 and emerge as the 19th largest economy in the world, according to an HSBC report, The World In 2050, which makes predictions about future economic trends. According to HSBC estimates, by 2050 Egypt’s economy will reach $1,165 billion, surpassing

Saudi Arabia’s $1,128 billion. Iran will be the only other Middle East state in the world’s 30-largest economies, with $732 billion. The massive shift in the global economy will be due to rapid demographic shifts, huge improvements in emerging market infrastructure, education and spending patterns.

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Gulf Business | May 2011 by Motivate Media Group - Issuu